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Ed Yardeni resigns Prudential

Posted By Barry Ritholtz On September 9, 2004 @ 9:54 am In Finance | Comments Disabled

yardeni_logo

Ed Yardeni has resigned Prudential. There’s a note on Pru’s web page: “Effective 9/7/04, Ed Yardeni is no longer [1] with the Prudential Equity Group.”

I hope that the good doc continues to maintain his excellent page: Dr. Ed Yardeni’s Economics Network [2]

Here’s the link to a Bloomberg story [3] on this:

Prudential Financial Inc.’s Edward Yardeni, one of the most bullish strategists on Wall Street, said Tuesday that he had left the firm to join Oak Associates Ltd., a money manager that oversees more than $8 billion in assets.

Yardeni, 54, will be chief investment strategist at Akron, Ohio-based Oak Associates, a firm that manages mutual fund, pension and endowment assets. He held the same title at the brokerage unit of Prudential, where he had worked since 2002. Prudential’s Edward Keon will succeed Yardeni, while keeping his positions as the firm’s chief U.S. equity strategist and director of quantitative research, a spokesman said.

“At some point, Wall Street strategists want to see if they are as good as they think they are,” Yardeni said in a telephone interview. “The only way you can do this is to go to a buy-side firm and establish a track record.”

Yardeni is one of the most optimistic strategists in Bloomberg News’ weekly survey of securities firms. He recommends that “moderately aggressive” investors put 70% of their assets in stocks, 20% in bonds and 10% in cash. . . .

Sources:
Prudential Equity Group Announcement [1]

http://www.cm1.prusec.com/cmi.nsf/(YardeniHome)?OpenAgent

Dr. Ed Yardeni’s Economics Network [2]

http://www.cm1.prusec.com/yardweb.nsf/(YardeniHome)?openagent

Prudential’s Yardeni Joins Oak Associates [3]
From Bloomberg News
September 8, 2004

http://www.latimes.com/business/la-fi-wrap8.2sep08,1,7620466.story?coll=la-headlines-business


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2004/09/ed-yardeni-resigns-prudential/

URLs in this post:

[1] no longer: http://www.cm1.prusec.com/cmi.nsf/(YardeniHome)?OpenAgent

[2] Dr. Ed Yardeni’s Economics Network: http://www.cm1.prusec.com/yardweb.nsf/(YardeniHome)?openagent

[3] Bloomberg story: http://www.latimes.com/business/la-fi-wrap8.2sep08,1,7620466.story?coll=la-headlines-business

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